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on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans in congress gave up. david corn "showdown," the stand off the president faced with republicans. david, thanks for being here. >> good evening, rachel. >> eric cantor says, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you know, there are a couple of things to think about here. i call this plan r for run away. but we know that john boehner often has had trouble with his various plans. plan b most notoriously, getting them approved, accepted and passed by his own house republicans. and cantor made a very declarative statement today. we're going to bring this to a vote, and when you do that, usually you think you have the votes, but immediately there were grumblings that some house republicans will go along with this i'm not sure that democrats will, too. so it remains to be
on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans in congress gave up. david corn "showdown," the stand off the president faced with republicans. david, thanks for being here. >> good evening, rachel. >> eric cantor says, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you...
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lew is not is chummy with republicans on the hill after the debt ceiling negotiation back in 2011. for that reason and others, his confirmation hearing could be bumpy. if confirmed, he will be dealing with the top issue in this second term, how to get the economy moving and addressing the country's long term fiscal problems. >> this is a president that is forced to grapple with the budget woes, with the economy that cannot get over the hump. it will consume most of his time, i believe, in the second term. >> what he cannot do going into the term is go from economic crisis to economic crisis. that is not leadership. he has to figure out how to address this in a broader policy way. our health care reform cannot waste, must not wait and will not wait another year. >> passing health care legislation early on was high on the president's to-do list. he picked kansas governor to head up health and human services, to get health care legislation done he largely passed control over to congress to put the bill together and to figure out how to get it through. it became a messy process about 2
lew is not is chummy with republicans on the hill after the debt ceiling negotiation back in 2011. for that reason and others, his confirmation hearing could be bumpy. if confirmed, he will be dealing with the top issue in this second term, how to get the economy moving and addressing the country's long term fiscal problems. >> this is a president that is forced to grapple with the budget woes, with the economy that cannot get over the hump. it will consume most of his time, i believe, in...
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president obama warned republicans about taking the debt ceiling hostage. it looks like they heard the message. >> the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is rung short. >> republicans made their choice during a gop retreat in williamsburg, virginia. house majority leader eric cantore reportedly has plans for three months. in a statement the white house responding, saying, we are encouraged. there are signs congressional republicans may back off their insistence on holding our economy hostage to extract drastic cuts in medicare, education and programs middle class families depend on. the temporary nature of the increase is somewhat troubling. a white house official told nbc news it's a terrible way to run the country. but the aide gave no indication president obama would veto a temporary extension if this is how congressional republicans want to govern, so be it. they already have an approval rat
president obama warned republicans about taking the debt ceiling hostage. it looks like they heard the message. >> the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is rung short. >> republicans made their choice during a gop retreat in williamsburg, virginia. house majority leader eric cantore reportedly has plans for three...
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and let's take it to them on the debt ceiling. that is what we'll do on the debt limit. that is where we'll fight the battle. that is where we're take it to obama, that is where we'll make him pay and get the spending cuts. remember that? that is where we're at. we're now at the debt limit. and guess what? this is not the time to fight this battle. we can't win anything on the debt limit. and when we get to march and the continuing resolution -- you know what, what will be said then? this is not the hilda fight, we don't want to be responsible for people not getting their social security checks. we don't want to be blamed for it. >> joining me now are ryan grim, washington bureau chief for "huffington post," ryan, so really, they on the debt ceiling, if all the democrats voted to raise it they would only need 18 republican votes to raise it. is that the kind of thing we're going to see happen? >> i mean, you're either going to see that or a complete and total cave. but i don't think you will see a complete and total one, because you have the tea party still hanging aroun
and let's take it to them on the debt ceiling. that is what we'll do on the debt limit. that is where we'll fight the battle. that is where we're take it to obama, that is where we'll make him pay and get the spending cuts. remember that? that is where we're at. we're now at the debt limit. and guess what? this is not the time to fight this battle. we can't win anything on the debt limit. and when we get to march and the continuing resolution -- you know what, what will be said then? this is...
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but they want it separated from debt creating. >> let's talk about this debt ceiling thing, howard. do you think the press objectively can report the way the president tried to sell it, which is if this government can't pay its debts, refuses to pay it because of the debt ceiling, is that la republican decision or is it going to be played conflict in washington, gridlock, both parties to plame? >> well, the president said in the press conference i think people will blame all of washington, but he didn't mean it. and he doesn't believe it. he thinks, and i think rightly thinks, that the political onus will be on the republicans. the president said we aren't a deadbeat nation which is one of many great quotes in that press conference. >> i like that word deadbeat. >> we aren't a deadbeat nation and he said the republicans will turn us into a deadbeat nation if they do what they're threatening -- >> if sib else object to the question. if there's a different answer i'll sep it. did the democrats ever play the game of not paying the bills of the united states government as a tactic. >> t
but they want it separated from debt creating. >> let's talk about this debt ceiling thing, howard. do you think the press objectively can report the way the president tried to sell it, which is if this government can't pay its debts, refuses to pay it because of the debt ceiling, is that la republican decision or is it going to be played conflict in washington, gridlock, both parties to plame? >> well, the president said in the press conference i think people will blame all of...
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but not until you take care of the debt ceiling and get that off the table. that was the president's principal message today and he got a lot of conversation about why not negotiate. he said he's to the going to. we'll leave it there at least for the time being. >> rose: what will the republicans do, will they shut down the government. >> no, not over the debt ceiling. they may over the continuing resolution this is not their best vehicle. my guess is what they will probably have to do is give him a short-term extension. and then see if the senate will go along. they being of course the house republicans and just try to prolong this fight for a while. they don't want to have-- not shutting down the government is really spooking the credit markets and everything that major talked about a moment ago. and how the president would handle short-term extension is another matter. i think that would back him into a corner. he also ran into a problem because both in response to major and in response to julianna goldman he said i'm not going to negotiate over this. if t
but not until you take care of the debt ceiling and get that off the table. that was the president's principal message today and he got a lot of conversation about why not negotiate. he said he's to the going to. we'll leave it there at least for the time being. >> rose: what will the republicans do, will they shut down the government. >> no, not over the debt ceiling. they may over the continuing resolution this is not their best vehicle. my guess is what they will probably have to...
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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of the united states of america not paying its bills is irresponsible. it is absurd. the full faith and credit of the united states of america is not a bargaining chip. and they had better choose quickly because time is running short. >> house republicans continued to threaten to use the debt ceiling as a bargaining chip. house republican conference chairwoman kathy rogers told "political" i think it is possible we would shut down the government to make sure that president obama understands that we're serious. well, i guess that would do it. we always talk
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of...
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how are we going to see this ludicrous, childish behavior we saw over the debt ceiling argument, for example, come to an end and people get into a room and getting stuff done. that's the key thing, i think, for his second term. >> jamal alluded to a new strategy at the white house, which is going to be to go around congress and go directly to the american people. the white house believes the reason they got a deal in the 12th hour is because they went to the american people and the american people said by god, get something done. >> are they right? >> look, it did work. boehner has also indicated he's not going to deal with the president one-on-one. they're going to go through the regular order. the senate is going to have to do something, the house is going to have to do something. they're going to meet in conference and send it to the presidency. i think the president's legacy to go big, to get a grand bargain, to have long-term economic growth but also to have a legacy of fiscal sustainability could be his major legacy piece. and i think even though he wants to do guns, even thoug
how are we going to see this ludicrous, childish behavior we saw over the debt ceiling argument, for example, come to an end and people get into a room and getting stuff done. that's the key thing, i think, for his second term. >> jamal alluded to a new strategy at the white house, which is going to be to go around congress and go directly to the american people. the white house believes the reason they got a deal in the 12th hour is because they went to the american people and the...
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let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> let me ask you a question. a bill that says regardless of what happens the debt ceiling, that the united states will never default on the debt. would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the mcconnell act. >> we may have just made news. >>> last week, general colin powell was here worried about a dark vein of intolerance in republican parties in some quarters. you are part of a stream of new faces in the republican party, minority faces and voices in the party that seem to stand against that. how did you respond to it? >> well, i saw that interview. i respect general powell a great deal. i was disappointed with those comments. i think he was buying into some of the partisan attacks. if you look at this last election, f
let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> let me ask you a question. a bill that says regardless of what happens the debt ceiling, that the united states will never default on the debt. would you support that or not? >> i support the concept. i'd have to look at the bill. the...
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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to tax and spend to the congress, and the congress alone. our current deficit is the result of money congress has already borrowed. president obama explained to the american people today how republicans in congress are trying to avoid doing their actual jobs. >> these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> if the american people do not catch on to the severity of all of this, of defaulting on our debts, the cou
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to tax and spend to the congress, and the congress alone. our current deficit is the result of money...
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ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to spend to congress. the result is the money congress has already borrowed. president obama explained to the american people in congress how they're trying to do their actual jobs. >> these are bills that are racked up. and we need to pay them. so while i'm willing to find compromise on how to pay our debts, americans should not be stopped from paying the bills we racked up. >> the country will be in a dire situation. president obama knows t
ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or...
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could hit the debt ceiling as soon as mid-february. joining me now, host of "power lunch," tyler matheson. good to see you again. >> hi, tamron. >> we have the threat of our credit rating being downgraded here as wall street keeps an eye just like people at home what's happening in d.c. with the latest battle. >> this is really the biggy. compared with the fiscal cliff which was by all accounts a roughly familiar tax and spending debate, this one has far more import because it will determine whether among other things the united states continues to make good on the obligations it has already undertaken. interest and principal on the debt we have borrowed. our credit rating which was so famously downgraded in the summer of 2011 hangs in the balance here. and of course, people on both sides of the aisle are fighting over whether it is fair game to use the debt ceiling as a piece of political leverage to get the government to stop its spending. on the one hand, people on the right say, well, what else are we going to use? we are engaging
could hit the debt ceiling as soon as mid-february. joining me now, host of "power lunch," tyler matheson. good to see you again. >> hi, tamron. >> we have the threat of our credit rating being downgraded here as wall street keeps an eye just like people at home what's happening in d.c. with the latest battle. >> this is really the biggy. compared with the fiscal cliff which was by all accounts a roughly familiar tax and spending debate, this one has far more import...
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ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt ceiling. that's an automatic. we should move forward and talk about how we create jobs. by creating jobs we reduce the deficit. >> jennifer: i'm take taking it as an encouraging sign that the tea party can be moved by public voices. if they can be moved on the debt ceiling of all things, maybe they could be moved on guns. you wrote in the "huffington post," advocating reducing defense spending so you can spend more money and invest in the united states. the question is in the negotiations in congress over the spending do you see that happening? >> we've go
ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt...
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to reduce the debt ceiling, we talked to businesses outside of new york, if we don't raise the debt ceiling, it's a potential, reality for wrecking -- >> that's the wrong time. >> the debt ceiling is the wrong time to do it. >> saying you can't do it with the debt ceiling, can't do it with the fiscal cliff, can't do it shutting down the government. all i'm talking about, the president of the united states has absolutely no is in no position to talk about who's being reckless with the debt. the real default has come from his lack of leadership on deficits and debts. the federal deficit has been over a trillion dollars all four years he's been president of the united states. he's done absolutely nothing to curb the costs of these programs that will, according to democra democrats -- >> hmm. >> bankrupt us. what has harry reid rand democrats done in the senate? absolutely nothing. how many days since they passed a budget? >> 1,357. >> 1,357 days since democrats have passed a budget in the united states senate. >> let's talk about that lack of leadership so many people have criticized the presi
to reduce the debt ceiling, we talked to businesses outside of new york, if we don't raise the debt ceiling, it's a potential, reality for wrecking -- >> that's the wrong time. >> the debt ceiling is the wrong time to do it. >> saying you can't do it with the debt ceiling, can't do it with the fiscal cliff, can't do it shutting down the government. all i'm talking about, the president of the united states has absolutely no is in no position to talk about who's being reckless...
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that is far from a don't raise the debt ceiling ultimatum. boehner has now shown that he's willing to break glass and allow legislation to pass without a majority of the majority. perhaps we've seen the near future in how the republicans end up agreeing to a debt ceiling raise without a battle. government funding and government shutdown, different story. >>> let's turn back to the big story of the day. and that is the president's push on guns and the coming fight with both congress and the nra. in addition to calling on congress to pass gun control legislation, the president will propose a set of executive actions. nbc's justice correspondent pete williams is here to help explain some of those executive actions. a big one that we know he's going to call for is this idea, pete, of basically ordering the justice department to prosecute people that fail background checks. explain why that hasn't been done before, and how it can be done. >> sure, first of all. the federal law makes it a crime for somebody to falsify, knowingly falsify information
that is far from a don't raise the debt ceiling ultimatum. boehner has now shown that he's willing to break glass and allow legislation to pass without a majority of the majority. perhaps we've seen the near future in how the republicans end up agreeing to a debt ceiling raise without a battle. government funding and government shutdown, different story. >>> let's turn back to the big story of the day. and that is the president's push on guns and the coming fight with both congress and...
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>> the debt ceiling it is truth. think about this, can dirk the first time in our country. >> reminding people president himself, when he was in the senate, voted against the debt ceiling, these people that he is suggest want the country to go into default are doing the same thing when he was a senator, he changed his mind. absolutely not. did he vote against. he has spoken to that that was a political vote answered has learned from that but at the time, congress wasn't threatening to say we are not going to pay our bills unless we get what we want, deeper cuts in medicare than required or tank the economy. this false equivalence needs to stop. the barrier to progress here is not the president. we need more republicans in congress to think like republicans in the country who are seeking compromise, seeking balance, because we are poised here to really grow. if washington can do its part and not get in the way, our economies continue to grow, we can make big progress. >> this a president we are going to see, hey, he i
>> the debt ceiling it is truth. think about this, can dirk the first time in our country. >> reminding people president himself, when he was in the senate, voted against the debt ceiling, these people that he is suggest want the country to go into default are doing the same thing when he was a senator, he changed his mind. absolutely not. did he vote against. he has spoken to that that was a political vote answered has learned from that but at the time, congress wasn't threatening...
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maybe we shouldn't call this the debt ceiling at all. maybe we should change it the downgrade ceiling because this game of chicken is sick. >> sometimes semantics can make all the difference. >>> breaking news. "usa today" is reporting that lance armstrong has confessed to using performance enhancing drugs. i am looking at just rapped with lance armstrong, 2 1/2 hours. he came ready. what he did tell her? >> he confessed to doping in his cycling career. the interview just wrapped. and there is a confidentiality agreement about the show. it won't air until thursday. the plan all along was to use the venue to confess. make an admission about doping in his cycling career. something he's never done before. he's denied it for years and attacked those who accused him of it for years. >> significant development. >> attacked and attacked aggressively. denied allegations so many times. many people who thought there was no way he could tell the truth believed him. the power and passion in which he denied it. now he has admitted to something, now t
maybe we shouldn't call this the debt ceiling at all. maybe we should change it the downgrade ceiling because this game of chicken is sick. >> sometimes semantics can make all the difference. >>> breaking news. "usa today" is reporting that lance armstrong has confessed to using performance enhancing drugs. i am looking at just rapped with lance armstrong, 2 1/2 hours. he came ready. what he did tell her? >> he confessed to doping in his cycling career. the...
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maybe we shouldn't call this the debt ceiling at all. maybe we should change it the do downgrade ceiling because this game of chicken is sick. >> sometimes semantics can make all the difference. >> "outfront" next, a legendary hacker and activist commits suicide and his parents blame the government. >> and the lance armstrong apology tour has officially begun, but is he really coming clean. what he said and did not say today. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. officeyour business needs...k... at prices that keep you...out of the red. this week get a bonus $15 itunes gift card with any qualifying $75 ink purchase. find thousands of big deals now... at officemax. overmany discounts to thine customers! [old english accent] safe driver, multi-car, paid in full -- a most fulsome bounty indeed, lo
maybe we shouldn't call this the debt ceiling at all. maybe we should change it the do downgrade ceiling because this game of chicken is sick. >> sometimes semantics can make all the difference. >> "outfront" next, a legendary hacker and activist commits suicide and his parents blame the government. >> and the lance armstrong apology tour has officially begun, but is he really coming clean. what he said and did not say today. we asked total strangers to watch it for...
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reid to obama, it's okay to skip congress on the debt ceiling. >> that's right. i mean, that just shows how there's really no way out of this situation at this point. the two sides are arguing completely different things. on the one side republicans are saying taxes cannot be considered a part of the equation, and we need to cut spending dollar for dollar for any debt ceiling increase. >> right. the president is saying revenues must be part of an equation, and he does not want to use the debt ceiling as a bargaining chip. so what do they say, skip congress all together because they can't get it done. >> manu raju of politico and marilyn of "roll call," thank you both very much. president obama may have a new immigration plan in the works and what does that mean for his second agenda? and you may have more cash to put in the bank. after the break we'll examine the reason why. you're watching the place for politics. reliever by orthopedic doctors. just two aleve can keep pain away all day. back to the news. ♪ i don't wanna be right [ record scratch ] what?! it's
reid to obama, it's okay to skip congress on the debt ceiling. >> that's right. i mean, that just shows how there's really no way out of this situation at this point. the two sides are arguing completely different things. on the one side republicans are saying taxes cannot be considered a part of the equation, and we need to cut spending dollar for dollar for any debt ceiling increase. >> right. the president is saying revenues must be part of an equation, and he does not want to...
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ceiling has to have tax loopholes closed. speaker boehner brought the 800 billion in loop whole closures in the beginning of the fiscal cliff negotiation that should be a part of this deal. despite the fact that the president wanted rate increase on the fiscal deal and that's all they want. >> you can see the democrats and white house believe they have the argument in their back pocket. they offered once they can call on it again if they are going to concede on any spending cuts. none have been discussed at least in the short term are going to solve the problem. the only way you solve the problem is by structural entitlement reform. you have to change the trajectory. it is not 50 billion from defense spending there. it would have an impact in our capability in context with the military but the only way you get serious and change the trajectory of the debt is to have entitlement reform. >> what does that take? we are europe and finally we have to do something about it? >> i think charles's point this is a president who wouldn'
ceiling has to have tax loopholes closed. speaker boehner brought the 800 billion in loop whole closures in the beginning of the fiscal cliff negotiation that should be a part of this deal. despite the fact that the president wanted rate increase on the fiscal deal and that's all they want. >> you can see the democrats and white house believe they have the argument in their back pocket. they offered once they can call on it again if they are going to concede on any spending cuts. none...
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they'll push -- the question is how -- how do they push on the debt ceiling? do they say, look, we'll give you a short-term extension of the debt ceiling for a certain amount of spending cuts, or we'll give you a long-term extension like you want for even more spending cuts. can they force entitlement reform around medicare, for instance, even some of the -- in their view -- more limited things that the president wants to do around means testing and age and indexing to try to attach that to a debt-limit deal. do they move beyond the debt limit, try to get to the continuing resolutions and those kinds of things? they recognize that this is the only area of leverage that they have, but they want to be careful about it. >> so chuck todd, how does the white house deal with that supposed leverage? >> well, first i think the republicans are hoping that they have a manti te'o defense, that somehow it was all a hoax and maybe the election was a hoax and they can go back and redo everything. no. i think the republican -- the white house strategy is make the house repub
they'll push -- the question is how -- how do they push on the debt ceiling? do they say, look, we'll give you a short-term extension of the debt ceiling for a certain amount of spending cuts, or we'll give you a long-term extension like you want for even more spending cuts. can they force entitlement reform around medicare, for instance, even some of the -- in their view -- more limited things that the president wants to do around means testing and age and indexing to try to attach that to a...
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money, we've got the debt ceiling argument coming up here. the government's going to run out of money at the end of february if something isn't done. do you see more of the same what we saw during this fiscal cliff or is this something better on the horizon. >> wouldn't that be great if i could say yes but i can't say yes. remember when the election ended and it looked like this was going to be an era of compromise. john boehner came out and said of course we want to work with the president. the president said of course we want to work with the public. that was shattered within about 20 minutes after both men said that. and so i don't think we're looking at compromise anywhere, it's really about who can get their way by trying to intimidate the other side more. so democrats not the president but other democrats saying hey here's a way that's not compromise. we're going to print a coin, a trill undollar coinen dollar coin. think of this sort of establishment republican saying how about a partialual shut down of the government to get what we wa
money, we've got the debt ceiling argument coming up here. the government's going to run out of money at the end of february if something isn't done. do you see more of the same what we saw during this fiscal cliff or is this something better on the horizon. >> wouldn't that be great if i could say yes but i can't say yes. remember when the election ended and it looked like this was going to be an era of compromise. john boehner came out and said of course we want to work with the...
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Jan 13, 2013
01/13
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also, the next fight in washington will be over the debt ceiling. can president obama end this craziness and bypass congress altogether? we'll talk about the out of the box solutions and whether they would work. >>> and, finally, this is the signature of the man who might be the next treasury secretary. we'll look back through history to see if there's any loopy president. speaking of secretaries of the treasury three former holders of the office and many other statesmen and women offering advice to the president on a new gps special tonight "memo to the president, road map for a second term." tonight at 8:00 p.m. and 11:00 p.m. eastern and pacific. >>> first, here's my take. chuck hagel's nomination as america's next secretary of defense has drawn fire from people who say he's outside of the main stream. in fact, he's a pretty straight forward, traditional republican on most issues with a reluctance to go to war, born of knowledge and experience. where hagel does appear out of the mainstream in washington's world of group think is on iran. which i
also, the next fight in washington will be over the debt ceiling. can president obama end this craziness and bypass congress altogether? we'll talk about the out of the box solutions and whether they would work. >>> and, finally, this is the signature of the man who might be the next treasury secretary. we'll look back through history to see if there's any loopy president. speaking of secretaries of the treasury three former holders of the office and many other statesmen and women...
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Jan 17, 2013
01/13
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to come up with a strategy over the drama over the debt ceiling. continuing resolution and sequester cuts. one of them admits it's a tough situation for them. >> there is no celebration in the fact we are a nation of $16 trillion in debt. you have somebody in the white house that says to do the one thing that makes no sense whatsoever. that is raise the debt creeling with no change in the future. that is absurd argument. >> let's get more on the republican messaging from senior political analyst. brit hume. good evening. >> hi, bret. >> the house republicans are not wrong to seek spending cut to allow borrowing by a treasury more than $16 trillion in debt. but in politics it's not enough to be right. you need to be effective. it requires recognition that politics is a team sport and being united is critical. this is true if the party controls one house of congress and the other party not only has the other one but the white house as well. consider what happened in the recent fiscal cliff end game. taxes were set to go up by law on january 1. some h
to come up with a strategy over the drama over the debt ceiling. continuing resolution and sequester cuts. one of them admits it's a tough situation for them. >> there is no celebration in the fact we are a nation of $16 trillion in debt. you have somebody in the white house that says to do the one thing that makes no sense whatsoever. that is raise the debt creeling with no change in the future. that is absurd argument. >> let's get more on the republican messaging from senior...
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Jan 13, 2013
01/13
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we're the only country on earth that has a debt ceiling limit. ultimately as part of a grand bargain we ought to get rid of it and we ought to substitute statutory budget controls and the constitutional credit cart limit, the gdp but in the interim if the republicans wasn't to use leverage they ought to use it on the sequester and continuing resolution. >> right on the heels -- >> we should not allow this to become thought of as a legitimate or normal budget strategy. this is hostage-taking. this is saying walk into a room saying i've got a bomb, give me what i want or i'll blow up this room. this is not something -- this has never happened before and should not be allowed to happen. >> doesn't it mean it will happen now for the first time given the positions that each side has taken and what -- let me ask you, paul krugman, what are the economic consequences of that? >> it's incredibly scary. this is much scarier than the fiscal cliff, much scarier than any of the other things out there because we don't know what it does. what we do know is u.s.
we're the only country on earth that has a debt ceiling limit. ultimately as part of a grand bargain we ought to get rid of it and we ought to substitute statutory budget controls and the constitutional credit cart limit, the gdp but in the interim if the republicans wasn't to use leverage they ought to use it on the sequester and continuing resolution. >> right on the heels -- >> we should not allow this to become thought of as a legitimate or normal budget strategy. this is...